Case Study: Vietcombank achieves near‑100% STP and end-to-end payments modernization with Finastra Global PAYplus

Driving Digital Banking Transformation Through Payments Modernization

Vietcombank, one of Vietnam’s largest commercial banks, set out to become the first Vietnamese bank to digitize all payments activities but was held back by siloed, aging backend payments systems, manual processing and the need to adopt ISO 20022 and modern APIs. To support its 2019–2025 digital transformation roadmap and rising digital transaction volumes, Vietcombank selected Finastra and its Global PAYplus solution to modernize and consolidate its payments infrastructure.

Finastra implemented Global PAYplus as a single, configurable payment hub (delivered remotely with partner ETC), consolidating domestic and cross‑border payment types, standardizing workflows and exposing modern APIs. The deployment cut manual interventions, accelerated processing, and boosted STP rates to nearly 100% for domestic payments and over 90% for cross‑border, while improving customer experience, enabling embedded payments and e‑commerce use cases, and reducing time-to-change from months to days.

Vietcombank

Vu Thi Xuan Tho

Deputy Director, Payment Center Head Office